Financial Services Cybersecurity Weekly Briefing 01-05-2018

Weekly FS Cybersecurity Blast

Weekly FS Cybersecurity Blast

17 Things We Should Have Learned in 2017, but Probably Didn’t
Chances are, you make similar resolutions every January 1st. Each year the infosec headlines flood us with new cautionary tales, some trying to teach us the same old lessons. Here are 17 things we should have learned from the horrors of 2017…but probably didn’t[.]


Cyber Security the Biggest Priority for Finance Firms 
The survey of 504 senior managers found that despite cyber-attacks being a top concern in the financial sector, confidence is at a high amongst financial services professionals, with 94 per cent believing that they are well-equipped to defend against attacks. The study also found that data and security systems are a top priority for senior managers in the public sector, with this being cited by 79 per cent of respondents, whilst 88 per cent believe that they have a strong line of defence when it comes to cyber-attacks.


The CFO and Cyber Security: Staying Resilient in the Age of Digital 
More and more, the CFO is starting to play an important role in advising other board members on the possible financial impact of a data breach, ensuring that sufficient funds are allocated for preventing and containing potential incidents.  To be able to do this effectively, CFOs require an increased knowledge on how cyber threats are managed, as well as having an understanding of cyber security risk, and that means working a lot more closely with security experts.


Cyber Security Statistics 2017: Data Breaches and Cyber Attacks
By December 20, the Identity Theft Resources Center (ITRC) had recorded 1,293 U.S. data breaches in 2017, exposing more than 174 million confidential records. That was 21 percent higher than what was recorded at the same time in 2016. By year’s end, the total number of breaches was expected to reach a record-setting 1,300. In 2016, the ITRC recorded 1,093 breaches. Who’s Affected? The ITRC report broke down the breach results into five industry sectors: business (50.5 percent), medical/healthcare (28.3 percent), educational (8.8 percent), banking/credit/financial (7.1 percent) and government/military (5.3 percent).


Tax Scam Alert: The IRS Just Issued a New Cybersecurity Warning
Owners need to be sure that anyone with access to employee records including W-2s understands that they shouldn’t send the forms or staffer information to anyone without checking to be sure this isn’t an attempted scam. The IRS also wants companies to report W-2 scam emails to the agency, and it also wants to know if anyone has become a victim.


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